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The $30M gift that can transform a college into a university

Delaware Valley College received $30 million in property and cash from the Warwick Foundation of Bucks County, and the gift is as much a psychological asset as an opportunity to grow from its agricultural roots, reports The Washington Post.

The donation announced in September includes a 400-acre farm worth about $15 million; a $10 million endowment to care for the land; and $5 million to support the college's long-term academic vision.

Warwick Foundation President Betsy Gemmill was already a fan of Delaware Valley when negotiations for the gift began about two years ago. Her father had once been chairman of the board at the school, which is about 10 miles from the family's farm in Warwick Township.

Gemmill said (DelVal president Joseph) Brosnan sealed the deal with an ambitious agenda to add graduate programs and attain university status while retaining the school's agricultural heritage. The donation essentially doubles the institution's $16 million endowment and its land holdings.

Original source: The Washington Post
Read the full story here.
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